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​Canberra, 23 June 2014 – Two of the final blocks of developable land within The Peninsula precinct at Kingston Foreshore will go to auction this month in a move tipped to generate significant buyer interest.

CBRE’s Mark Nicholls and Andrew Stewart have been appointed by the Land Development Agency as the lead agent to auction the two blocks, working in conjunction with local residential agency the Independent Property Group.

The campaign follows the sale earlier this year of three neighbouring Peninsula sites for a combined $22.2 million. Two of the sites were acquired by local developers with the third purchased by a developer from interstate.

Mr Nicholls said The Peninsula’s potential as a commercial and residential precinct would be a major selling factor, as would the scale of the sites and their location overlooking the Jerrabomberra Wetlands, within walking distance of Kingston Harbour’s waterside cafes and restaurants.

Both have a mixed use zoning, with the 2,474sqm Block 3 site able to accommodate 65 residential apartments and the larger, 2,715sq Block suitable for 66 apartments.

“These are very manageable project sizes and, as such, expect strong interest from local developers who understand the dynamics of the Kingston Foreshore precinct, which is now recognised as one of Canberra’s most prestigious residential locations,” Mr Nicholls said.

The sites will be auctioned on Wednesday 25th June at the Boat House by the Lake in Barton.

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